No More Mr Nice Guy

The markets closed green today

$DJIA ( ▲ 0.33% )  
$SPY ( ▲ 0.63% )  
$QQQ ( ▲ 0.66% )  

$GOOG is blasting to the moon as we speak
Lets wait and see what the conference call brings
Right now as we speak, at the close, here’s how our Strangles that we took on it look
For every Put we bought we are down $351.00
For every Call we bought we are up $652.00

After tomorrows open that will change, and to our favor even more 😁 😁 😁 

I’ve said it before, stocks or Options, it doesn’t matter, the stock, the underlying, means next to nothing, it’s the strategies employed that capture gains and reduce risk
Had $GOOG ( ▼ 0.22% ) lost on earnings it wouldn’t of mattered, we still would be up and profitable, only on the short side of our position and not the long. That is why I am so in love with this market right now, movement, up or down, just move. Dips get bought and recoveries happen, we are slowlyyyyyyyyyyyyyyyyyyyyyyyyyyy seeing that more and more each day
Yes it’s still a news driven market, and we are only one tweet or one more tariff away from disaster, but the market is moving, and in the right direction
$AMZN ( ▼ 0.17% ) and $META ( ▲ 0.86% ) both had tremendous day today again… Congrats to anyone playing them with this weeks mentions
The conference call on $GOOG ( ▼ 0.22% ) must be going well, it’s moving north again

I want to talk about something for a minute that is a “big deal” on Reddit and other social media sites in investing rooms. It’s called “Degen” or for us older folks, it means Degenerate
It started during covid, first we had the monkey paintings, then the coins, then the “meme stocks” then YOLO
For those of you saying “What is he talking about???? “
YOLO
You
Only
Live
Once
To us that count rebates on tools and look forward to Saturday mornings at $HD ( ▲ 0.58% ) and $LOW ( ▲ 0.96% ) ..
It’s the same as saying “Put it all on black”

During covid I was invited to a families home for dinner, they had a reason
The son, who was 21’sh at that time, was in college and a great young man, he YOLO’d 40K and turned it into over 2 Million. It wasn’t b.s. I saw it with my own 2 eyes
After the kid did that he got out, he placed that money in the bank and finished college
I’d venture to say 99% of the time that does not happen, most go back in and go bigger
And then they lose, the house always wins
A few years before that I was asked to dinner by a couple of investors, one had placed roughly 300K in the market, turned it into 500K in 6 months, not bad, not bad at all, then lost about 450K….. For those that don’t look at this as a business but as a way to “get rich quick” that is typically what happens…
The one that broke my heart was some friends came to me, married couple, her sister and brother in law took a 2nd mortgage on their home to play the meme stock craze
They lost all 70K that they took out on their home
They came to me because they wanted to see how they could make it back, I told them I was sorry but that there was nothing that I could do

In 2014 a movie came out called “The Gambler” and no, not with Kenny Rodgers
John Goodman plays a bad guy bookie and Mark Wahlberg is a college literature professor by day and a degenerate gambler by night….
Wahlberg goes to Goodman for a loan to gamble to pay off his other gambling debts

There is a very famous and well known scene in it called the “F--K You” scene
It’s a “cautionary tale” of the troubles of over extending ones self and about not having self control… I have seen this in the markets more times than I can count
My encouragement to all investors is to not let it happen to them

WARNING WARNING WARNING WARNING WARNING
VERY graphic language, racism and other derogatory language

https://youtu.be/y6yCmdIkw_E?si=4nkV5bVgJBoRJMn2

See you in the morning
The Options Coach